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I work in a service industry and the service I received from LoanDepot was truly awful… Do not do business with them. Here are the indisputable facts: 1) I told Loandepot up front that if they did not think that the loan could not be completed for the amount I was looking for that we not proceed because it would be a waste of everyone's time and my money.

2) They wasted 6 weeks of my time in working through a loan process that was never going to be underwritten at the amount discussed because they did a very poor job on their upfront due diligence. I would have been fine with a “no” answer up front – but they assured me they could get this done. 3) They have an inherent flaw in their initial screening/ determination process which in part was the cause of my wasted time. 4) Upon completing all the documentation requests, getting an appraisal which came in at the expected amount, getting underwriting approval and discussing the "final" information including setting a closing date with the "Platinum Sr Account Manager III" , the issue of the amount of the loan was identified by me.

We then went through a series of communications that started with a statement from the LoanDepot rep that they had sent me the change and that I had reviewed and approved it - which was not true and after proving that to the “Platinum Sr Account Manager III” through sending her a series of emails from them and screen shots, she ultimately agreed since the facts supported my statement and not the fallacy LoanDepot was trying to get me to agree to so that could cover their mistake. The change in the loan amount was never communicated to me by anyone including by the system generated emails and I only caught it because I asked the “Platinum Sr Account Manager III” to repeat the information she was giving me. LoanDepot would not have caught this miscommunication. 5) The Licensed Lending Officer, Ali Nasser, has not been in touch with me to discuss or apologize for the waste of my time.

He told me up front that he had a great deal of experience - but obviously from my perspective I now question whether that was true. When problems started arising I emailed him but never heard from him via email or phone. 6) The "Platinum Sr Account Manager III" told me that this matter should have been identified up front. 7) I was told that after the problem was identified in the amount to be underwritten that my file would be sent to the "restructure team" to see if anything could be done.

A week and a half has expired with no further communication from anyone at LoanDepot. This is not a baseless rant. I have emails and screenshots that support all my statements Poor process, poor communication, no apology and no closure. They are obviously getting too big for their own processes and so they are making careless mistakes and have flaws.

Be careful. So they may do a great job when things are proceeding as LOANDEPOT has planned...

but if not look out because you may end up with the same surprise I did after underwriter approval – no loan and complete waste of time. Would recommend that you not do business with them and I will never do business with them and I am communicating that throughout my business community.

Reason of review: Poor customer service.

Monetary Loss: $400.

Loan Depot Cons: Process and communication were pathetic.

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